Page 25 - Proposed budget cover and insert sheets

CITY OF HURST
FY 2024-2025 PROPOSED BUDGET
HOTEL / MOTEL TAX FUND
REVENUES AND EXPENDITURES

The Hotel/Motel Tax Fund collects as revenue a 7% hotel occupancy tax that is remitted quarterly from hotels within the
city limits. Projects for this fund are recommended by the Parks and Recreation Board and approved by the City Council
on an annual basis and are restricted to projects relating to the promotion of tourism and community development. The
City currently has five hotels in operation. The largest hotel, Hyatt Place, opened December 1998. The Hampton Inn
opened in 2004. The Holiday Inn Express opened in the summer of 2008. A Hilton Garden Inn was constructed adjacent to
the Hurst Conference Center and opened in summer 2018. A new Candlewood Suites was completed in 2020.

ESTIMATED FUND BALANCE OCTOBER 1, 2024 $2,551,662
REVENUES
Hotel/Motel Taxes $950,000
Development Incentives (225,000)
TOTAL REVENUES $725,000
TOTAL FUNDS AVAILABLE $3,276,662
EXPENDITURES
Administration
I Fly Project $5,000

Administration
HEB Chamber Ads $5,000

Parks
Decorative Fountain Maintenance & Landscape $26,950

Arts, Culture, and Recreation
Utility Box Art Project Phase 4 $10,000
Art in Public Places Phase 5 50,000 $60,000

Recreation
Community Events & Entertainment $35,000

Library
Masterworks Concert Series $30,000
Debt Service
Conference Facility $359,600
TOTAL EXPENDITURES $521,550

ESTIMATED FUND BALANCE AT SEPTEMBER 30, 2025 $2,755,112

DEBT SERVICE RESERVE $720,800

UNDESIGNATED FUND BALANCE AT SEPTEMBER 30, 2025 $2,034,312